The Energy and Petroleum Regulatory Authority (EPRA) is expected to review pump prices for the months of November and December 2023. As per the remarks of Energy and Petroleum Cabinet Secretary (CS) Davis Chirchir the oil prices are set to go higher to Ksh 300 a litre. The CS said that as a result of the ongoing Israeli-Hamas war it could continue to affect global prices of petroleum products whose prices are already soaring high. The CS made this remarks while addressing the National Dialogue committee at Bomas of Kenya.
In September the CS noted that the prices of oil will continue to be an upward trend factoring in the market forces from oil producing countries. The CS statement comes weeks after the Deputy President warned of the impact Israel- Hamas war on oil prices. This news comes at a time when Uganda made a move to start importing oil directly through its national oil company(UNOC).
The Ugandan Energy Minister stated clearly that the Kenyan and Gulf nations deal on oil hurt the country.their decision to halt their ealier engagement means their consumers will not feel the heat when it comes to soaring oil prices.